AGA Exam CGFM Topic 2 Question 37 Discussion

Actual exam question for AGA's CGFM exam

Question #: 37
Topic #: 2

[All CGFM Questions]

When considering materiality during the planning phase for the field work for a financial audit, the dollar threshold for materiality is determined by the

Aauditor.

Bauditee.

Cauditor in consultation with the auditee.

Daudit committee.

Show Suggested Answer

Suggested Answer: D

by Lucy at Dec 14, 2023, 02:46 PM

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Blair

6 days ago

Hmm, I'm not sure about that. Shouldn't the auditee have a say in this? They know their business best, right?

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Goldie

13 days ago

I think the auditor should determine the materiality threshold based on their professional judgment. After all, they're the experts in this field.

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Miriam

14 days ago

Actually, the auditor determines materiality in consultation with the auditee to ensure accuracy.

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Queen

15 days ago

I agree with Latanya, the auditor is responsible for determining materiality.

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Latanya

25 days ago

I think the dollar threshold for materiality is determined by the auditor.

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